BTC formed a head and shoulders top structure on the hourly timeframe. Watch whether the neckline at 71300 breaks through. A 1:1 rally could reach 74700.

Despite the high expectations, this level still needs to be shorted.

Shorting strategy: Defend around 72000 with a 300-point stop loss; around 73100, defend with a 400-point stop loss on the short term, and enter initial position for medium to long term.

A long position was urgently posted at 69300 at 3 AM last night. If flat, you can only enter around 70300. If the stop loss is too far and unacceptable, skip this trade.